Coal imports by power companies surge - Scindia

NEW DELHI Fri Feb 21, 2014 12:16am IST

A worker sits on a truck as he waits for the loading of coal at a railway coal yard on the outskirts of Ahmedabad November 25, 2013. REUTERS/Amit Dave/Files

A worker sits on a truck as he waits for the loading of coal at a railway coal yard on the outskirts of Ahmedabad November 25, 2013.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - Coal imports by power producers surged 31 percent to 66 million tonnes in April-January compared with the same period a year earlier, the power minister said on Thursday, as coal-based generation rose but domestic coal shortage continued.

India's rush to add power capacity after years of under-investment has forced electricity generators including NTPC Ltd (NTPC.NS) to import coal heavily as state-run monopoly Coal India Ltd (COAL.NS) has struggled to meet demand.

In April-January power producers imported 31 million tonnes of coal to blend them with lower quality varieties and about 35 million tonnes for plants that depend exclusively on coal from overseas, Power Minister Jyotiraditya Scindia said.

India's coal-based power generation rose 8 percent to 587.64 billion kilowatt hour during the period from a year earlier. Power companies are likely to import 82 million tonnes this fiscal year ending March 31, he added.

This was the first government data released on coal imports so far this fiscal year.

Research firm OreTeam told Reuters last month that total coal imports by industries such as power, steel, cement and others rose 21 percent to 152 million tonnes in 2013 and that shipments could rise to 170 million tonnes this year.

Top suppliers Indonesia, Australia and South Africa are the biggest beneficiaries of India's growing demand for coal, with Coal India estimating that India's coal shortage would hit 350 million tonnes in 2016-17.

India is trying to push Coal India, which accounts for about 80 percent of the country's total production, to raise output after the firm recorded six straight years of below-target output due to difficulties in obtaining environmental approvals, lack of railway access and other issues.

(Reporting by Krishna N Das, editing by David Evans)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Trade Deal

REUTERS SHOWCASE

Record High

Record High

Nifty hits record high on foreign buying, higher Asian stocks.  Full Article 

Bullish on Equities

Bullish on Equities

Bullish on Indian equities, but gains seen 'less sharp'- Goldman Sachs  Full Article 

BRICS Bank

BRICS Bank

World Bank chief welcomes new BRICS development bank.  Full Article 

Streamlining Operations

Jet Streamlines

Jet Airways chairman says looking to restructure debts, talking to bankers  Full Article 

Political Economy

Political Economy

Analysis - Watch what markets don't do as world politics turns nasty   Full Article 

Photo

Honda's India Thrust

Honda's India unit to account for 25 pct of Asia Pacific sales by March 2017 - exec   Full Article 

 Boosting Output

Boosting Output

NMDC plans to boost iron ore output by two-thirds  Full Article 

Apple Results

Apple Results

Apple margin concerns fade, focus shifts to iPhone launch  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage